This book surveys and discusses some of the main theoretical issues raised by adaptation to climate changes and describes in detail an empirical case study on the metrics and the estimates of related costs and benefits. The book argues that a basic distinction should be made between adaptation...

Society often sets social standards that define thresholds of damage to society or the environment above which compensation must be paid to the state or other parties. In this article, we analyze the interdependence between the use of social standards and investment evaluation under dynamic...